Reliance’s German Subsidiary Files for Insolvency

Reliance Industries says that its subsidiary Trevira (Bobingen, Germany), a manufacturer of polyester fibers and filament yarns, has filed an application to start insolvency proceedings with a restructuring plan, at the Augsburg Court in the state of Bavaria, Germany. The move follows major efforts by the company to overcome the impact of industrial slowdown in Europe, particularly in important customer industries such as automotive and textile, Reliance says. European textile manufacturers are currently facing a considerable drop in demand for their products...

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